Celebrity Homes at the Top of a Down Vegas Market

28 June, 2013 BY Virtual Results PubSub

LAS VEGAS, May 17, 2011 /PRNewswire/ — Lee M. Medick partner in the Luxe Estates Collection has a secret to selling luxury homes in Las Vegas – market those with a great backstory. “If there are two luxury estate homes side by side would you rather buy the one owned by Nicolas Cage or Joe Nobody?” Lee Medick said responding to a question regarding high end real-estate in Las Vegas. “That is what makes Vegas, Vegas,” Lee stated. “The homes that have a great celebrity story remain the hottest properties and are holding their value.”

Luxe Estates Collection has represented some of the most notable properties including everything from Nicolas Cage’s former estate to the 18-bedroom 36 bath Sultan’s compound. “While it is true that the overall real-estate market is down the smart money is coming to Luxe Estates to not only capture a piece of Vegas’ fabled personality, but to invest in properties that will be the first to grow in value,” Lee stated. “Ours is a unique niche. Buyers and investors from across the United States keep our phones ringing and we keep signing confidentially agreements. They foresee a strong rebound in values, and while a Nicolas Cage home should be priced at $12 million in a robust market it is now priced at $7.9 million, that $4 million equity growth potential is what investors are targeting,” Lee concluded.